The Leslie Fay Companies 4. Paul Polishan apparently dominated Leslie Fay’s accounting and financial reporting functions and the individuals who were his subordinates. What implications do such circumstances pose for a company’s independent auditors? How should auditors take such circumstances into consideration when planning an audit? Implications and something needs attention 1. The unusual relationship between CEO and CFO‚ especially when they are close to each other. 2. Accountant in charge
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Phar-Mor‚ Inc. 1. 2 cases which companies have committed fraud by misstating inventory: • Rocky Mount Undergarment Company‚ Inc. • Leslie Fay Company 2. Intentional misstatements of inventory is difficult to detect‚ as was in the case of Phar-Mor‚ Inc.‚ because of the collusion by employees and/or management to commit fraud. 3. Coopers & Lybrand won the Phar-Mor‚ Inc. account with a very low bid‚ so they wanted to limit their costs by testing only 4 out of the 129 stores
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1. What is earnings management? The companies use earnings management as a strategy by which they can easily control and manipulate their earnings to reach their pre-determined earning target. 2. Why do companies employ earnings management techniques? Accountants cannot predict every business structure‚ every new and innovative transaction. Therefore‚ they build up principles that allow for flexibility so that they can adapt to changing circumstances. However‚ people make use of that flexibility
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WOODSTOCK‚ GEORGIA JUNE 2012 AUTHOR INFORMATION William Fay was a very successful CEO of General Foods. The same company that produces the Bird’s Eye brand of frozen foods. Food production was not his only source of income. William Fay also established and profited from what was once the largest house of prostitution in the United States named Fantasy Island. William Fay was far from being a solid‚ upstanding citizen. He developed Mob ties early in adulthood that
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The major characters in The Optimist’s Daughter are Judge McKelva‚ Becky Mckelva‚ Laurel Mckelva‚ Wanda Fay‚ Dr. Courtland‚ Miss Adele Courtland‚ Tish Bullock‚ Major Bullock‚ Miss Tennyson‚ and Miss Missouri. Becky Mckelva was Judge Mckelva’s wife before she died and had Laurel Mckelva with him. Wanda Fay remarried Judge Mckelva after his wife’s death. Dr. Courtland did surgery on Becky Mckelva and the final operation on Judge Mckelva. Miss Adele Courtland is the sister of Dr. Courtland and is a
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Conversation 11: Fay asks Jerry about his plans for the summer and is a bit surprised. Fay: Hi Jerry. The school year is almost over. Do you have any plans for the summer holiday? Jerry: I’m planning on sleeping all day‚ every day! Fay: Oh‚ come on Jerry‚ you must be kidding. Jerry: Yeah‚ I’m just pulling your leg. Actually‚ I’m going to go down to Guizhou Province. Fay: Really? Why would you go to Guizhou? It’s not a very popular tourist site. Jerry: Exactly! It’s not very
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Mice and Men and Flowers for Algernon both Curley’s wife and Fay help further the point that women didn’t have it simple in the 1900’s. Through their levels of loneliness‚ their mistreatment as women‚ and their image of only being an object‚ it is apparent that these women faced many challenges during their existence. Loneliness takes form in many different actions and characteristics. In both Of Mice and Men and Flowers for Algernon‚ Fay and Curley’s Wife’s loneliness forms into a flirtatious nature
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After the roulette scandle Irwin and Linda return Duddy・s money apologeticaly‚ and many of the people at the hotel donate money to Duddy when they learn about his loss. Even though Duddy made a fatal error trusting Linda he still manages to find success
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by Mark Patinkin‚ who is a journalist and bulletin columnist‚ shows the story of Michael Fay‚ who vandalized cars in Singapore as an American citizen and weather or not he deserves to suffer the same punishment as the locals for his crime. In Singapore‚ “caning” is the default punishment for vandalism‚ which means that the offenders are moderately beaten with wooden canes or bamboo. The Writer sees Michael Fay as a teenager who needs to accept his sentencing for his vandalism of cars‚ and because
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(Thomas‚ 2004)‚ acknowledge good decisions and good behavior (Fay & Fay 2001)‚ allow children with Reactive Attachment Disorder to experience the natural consequences or logical consequences of their poor choices (Fay & Fay 2001)‚ provide consequences the first time (Thomas‚ 2004)‚ use actions‚ not words (Fay & Fay 2001)‚ use one-liners as often as possible (Fay‚ Cline‚ & Fay‚ 2000a)‚ recognize the child’s subtle attempts to control (Fay & Fay 2001)‚ avoid arguing with the child‚ remain calm‚ focus on
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